PS3 is getting better than it was. If you watch Blu-Ray movies, then that helps it a bit. On paper, it's also the more powerful of the two. Plus, it can browse the net unlike the 360 and PSN is free. Its list of games is also expanding quite a bit.
--Final Fantasy 13 series, Tales of Vesperia, Batman (with Joker gameplay), Dead Space, Disgaea 3, Gran Turismo 5, InFamous, Katamari Forever, Little Big Planet, Ninja Gaiden Sigma 2, Ratchet and Clank series, and Uncharted.
The 360 probably has a more varied list of games, and has a lot of good multi-platform games. It has a few exclusive DLC deals that the PS3 doesn't have. I might leave it to everyone else to list the games.